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Comcast Takes a Gamble on Media Content

If It Wins Control of NBC Universal, Cable Operator Would Face Challenges Managing Complex Set of Businesses

By

Sam Schechner

Updated Oct. 2, 2009 12:01 a.m. ET

If Comcast Corp. succeeds in buying control of NBC Universal, it will represent perhaps the biggest strategic gamble for an industry that has seen more than its share of big merger bets.

That's because Comcast, the nation's No. 1 cable-TV operator by subscribers, would be expanding deeply into the business of movies, televised entertainment and news at a time when the future of such traditional media content has never been so clouded.